The Equal Credit Opportunity Act Makes It Illegal for Businesses

question 6

True/False

The Equal Credit Opportunity Act makes it illegal for businesses to discriminate against credit applicants receiving public assistance income.

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Definitions:

Variable Operating Expenses

Operating costs that vary in proportion to the level of business activity or output, such as sales commissions and utility bills.

Comparative Income Statement

A financial statement that compares the income statements of two or more periods to identify changes in revenues, expenses, and net income.

Sales Revenue

The total amount of income generated by the sale of goods or services related to a company's primary operations.

Maintenance Costs

Expenses incurred to keep an asset in good condition and/or repair damage during a period.